The purchase is subject to approval by the relevant authorities, Total said in a statement. It did not give a value for the deal.

Chevron had been seeking to sell its Egyptian and Pakistani downstream assets to raise $300 million for the second-largest U.S. oil company, sources told Reuters in May.

Total already agreed in May to buy the Egyptian retail assets of Royal Dutch Shell.

Once the Shell and Chevron purchases close, the annual sales of its local subsidiary Total Egypt will exceed 3 million tonnes through 218 service stations, giving it a 14 percent share of the market, Total said.

The service stations will also distribute lubricants provided by a blending plant owned jointly by Total Egypt and OilLibya. - Reuters